Bullish provides USD.AI $100M facility for GPU loans
Article excerpt
Bullish has provided USD.AI with a $100 million stablecoin debt facility to fund loans secured by graphics processing units used in artificial intelligence infrastructure. Bullish said in a Friday announcement that the facility will give USD.AI capital to finance operators purchasing high-performance computing equipment, extending the exchange operator’s exposure to tokenized assets and AI infrastructure. Developed by Permian Labs, USD.AI connects stablecoin liquidity with companies seeking funds to buy GPUs. Instead of evaluating claims against a borrower’s entire business, the platform issues non-recourse loans secured by the computing hardware purchased with the financing. Bullish Head of Tokenization Thomas Cowan said the company used USD.AI’s onchain records when assessing the facility. Bullish had already invested in the platform before agreeing to provide the new debt financing. “Our commitment to USD.AI reflects a conviction we’ve believed since our first investment in the protocol: that credible, well-structured real-world assets belong onchain.” Under the arrangement, USD.AI will use the $100 million facility to originate loans for middle-market AI infrastructure operators. Ownership of the financed hardware provides the collateral, while the loan does not create a claim against the operator’s other corporate assets, according to the announcement. Such a structure...
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Alongside the lending facility, Bullish plans to introduce sUSDai across several trading pairs on its institutional exchange.
